Tibet Dejin Business Management Co., Ltd. made an offer to acquire an additional 21% stake in Shanghai Huitong Energy Co.,Ltd. (SHSE:600605) for approximately CNY 390 million on July 22, 2019. As per the offer, Tibet Dejin Business Management Co., Ltd. will acquire additional 30.94 million shares at CNY 12.5 per share. Transaction will be funded through own resources. Post completion, Tibet Dejin Business Management Co., Ltd. will hold 51% stake in Shanghai Huitong Energy Co.,Ltd. As of August 16, 2019, approximately 201 accounts will accept the tender offer, approximate total number of shares is 5.7 million shares accounting for 18.29% of the estimated total number of shares to be acquired. The tender offer is valid from July 26, 2019 to August 26, 2019. Tibet Dejin Business Management Co., Ltd. completed the acquisition of an additional 21% stake in Shanghai Huitong Energy Co.,Ltd. (SHSE:600605) on August 28, 2019.